Civic Intelligence

Ethel Walker School Inc.

990 • Fiscal year 2019 • EIN 06-0689699

Jul 01, 2018 to Jun 30, 2019 • Filed on Jul 09, 2020

230 Bushy Hill RoadSimsbury, CT 06070

(860) 658-4467

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

55th percentile

0.32x

Higher debt load relative to assets than 55% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Liabilities / Revenue

78th percentile

1.31x

Higher debt load relative to revenue than 78% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Net Margin

12th percentile

-13%

Higher net margin than 12% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Top Officer Pay

59th percentile

$408,821

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 2.2% of source-year revenue.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Asset Growth

16th percentile

-3.1%

Faster asset growth than 16% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Revenue Growth

17th percentile

-13%

Faster revenue growth than 17% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Assets

Down

$75,777,841

Down $2,409,200 (-3.1%) from 2018

Net Assets

Down

$51,424,812

Down $1,597,002 (-3.0%) from 2018

Liabilities

Down

$24,353,029

Down $812,198 (-3.2%) from 2018

Revenue

Down

$18,571,125

Down $2,692,028 (-13%) from 2018

Expenses

Down

$21,003,362

Down $546,657 (-2.5%) from 2018

Net Income

Down

-$2,432,237

Down $2,145,371 (-748%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2010: $48,824,844Liabilities 2010: $12,620,022Net Assets 2010: $36,204,8222010Assets 2011: $54,762,155Liabilities 2011: $12,999,664Net Assets 2011: $41,762,4912011Assets 2012: $57,511,693Liabilities 2012: $13,547,997Net Assets 2012: $43,963,6962012Assets 2013: $68,879,857Liabilities 2013: $22,419,509Net Assets 2013: $46,460,3482013Assets 2014: $72,384,308Liabilities 2014: $22,516,891Net Assets 2014: $49,867,4172014Assets 2015: $81,762,490Liabilities 2015: $23,304,903Net Assets 2015: $58,457,5872015Assets 2016: $88,882,874Liabilities 2016: $30,029,884Net Assets 2016: $58,852,9902016Assets 2017: $78,401,475Liabilities 2017: $26,705,935Net Assets 2017: $51,695,5402017Assets 2018: $78,187,041Liabilities 2018: $25,165,227Net Assets 2018: $53,021,8142018Assets 2019: $75,777,841Liabilities 2019: $24,353,029Net Assets 2019: $51,424,8122019Assets 2020: $75,599,307Liabilities 2020: $25,867,048Net Assets 2020: $49,732,2592020Assets 2021: $81,712,401Liabilities 2021: $24,722,512Net Assets 2021: $56,989,8892021Assets 2022: $96,232,703Liabilities 2022: $22,337,120Net Assets 2022: $73,895,5832022Assets 2023: $105,938,075Liabilities 2023: $29,164,854Net Assets 2023: $76,773,2212023Assets 2024: $107,569,432Liabilities 2024: $28,513,956Net Assets 2024: $79,055,4762024

Highlighted filing

2019

Assets$75,777,841
Liabilities$24,353,029
Net Assets$51,424,812

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$60M$40M$20M$0-$20MExpenses 2010: $15,508,6132010Expenses 2011: $15,380,2602011Expenses 2012: $16,596,2252012Revenue 2013: $18,465,793Expenses 2013: $17,297,650Net Income 2013: $1,168,1432013Revenue 2014: $18,471,071Expenses 2014: $18,789,622Net Income 2014: -$318,5512014Revenue 2015: $27,711,316Expenses 2015: $19,246,429Net Income 2015: $8,464,8872015Revenue 2016: $20,772,114Expenses 2016: $20,200,616Net Income 2016: $571,4982016Revenue 2017: $16,925,252Expenses 2017: $20,239,176Net Income 2017: -$3,313,9242017Revenue 2018: $21,263,153Expenses 2018: $21,550,019Net Income 2018: -$286,8662018Revenue 2019: $18,571,125Expenses 2019: $21,003,362Net Income 2019: -$2,432,2372019Revenue 2020: $18,133,207Expenses 2020: $21,066,410Net Income 2020: -$2,933,2032020Revenue 2021: $23,308,104Expenses 2021: $22,284,124Net Income 2021: $1,023,9802021Revenue 2022: $48,507,092Expenses 2022: $23,985,086Net Income 2022: $24,522,0062022Revenue 2023: $24,661,462Expenses 2023: $23,711,627Net Income 2023: $949,8352023Revenue 2024: $24,904,489Expenses 2024: $25,145,197Net Income 2024: -$240,7082024

Highlighted filing

2019

Revenue$18,571,125
Expenses$21,003,362
Net Income-$2,432,237
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jul 9, 2020
Return Version
2018v3.2
Gross Receipts
$22,621,281
Mission and Program Overview

Mission

The ethel walker school is an independent, college preparatory, boarding and day school for girls in grades six through twelve. Since 1911, the ethel walker school has excelled at preparing students to make a difference in the world. Members of this diverse community are dedicated to scholarship, the arts, athletics, wellness, and service. The satisfaction of achievement and joy of friendship are fundamental principles as the school empowers girls to lead with integrity, confidence, courage, and conviction.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$42,446,333$40,706,283▼ $1,740,050
Investments in Publicly Traded Securities$19,216,661$18,622,463▼ $594,198
Investments Other Securities$12,766,929$13,500,155▲ $733,226
Accounts Receivable$1,354,108$1,823,660▲ $469,552
Pledges and Grants Receivable$640,964$387,121▼ $253,843
Cash and Non-Interest-Bearing Accounts$807,420$98,747▼ $708,673
Inventories for Sale or Use$46,705$66,114▲ $19,409
Prepaid Expenses and Deferred Charges$43,141$50,993▲ $7,852
Total Assets$78,187,041$75,777,841▼ $2,409,200
Other Assets Total$864,780$522,305▼ $342,475
Liabilities
Tax Exempt Bond Liabilities$19,053,986$17,899,150▼ $1,154,836
Deferred Revenue$4,986,907$4,892,230▼ $94,677
Accounts Payable and Accrued Expenses$1,124,334$1,102,859▼ $21,475
Other Liabilities$0$458,790▲ $458,790
Total Liabilities$25,165,227$24,353,029▼ $812,198
Net Assets / Fund Balance
Permanently Rstr Net Assets$20,601,012$26,564,874▲ $5,963,862
Unrestricted Net Assets$27,088,148$24,859,938▼ $2,228,210
Temporarily Rstr Net Assets$5,332,654$0▼ $5,332,654
Total Net Assets Fund Balance$53,021,814$51,424,812▼ $1,597,002
Total Liabilities and Net Assets / Fund Balance$78,187,041$75,777,841▼ $2,409,200

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$36,159,142$26,298,734$62,457,876
Equipment$1,352,489$6,906,698$8,259,187
Other Land Buildings$3,194,652$3,704,625$6,899,277
Other Securities$11,739,999--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$17,580,511$22,237▲ $439,500$2,681,061$15,182,825
2017$17,255,278$125,500▲ $1,642,434$1,275,843$17,580,511
2016$16,643,493$97,394▲ $1,662,219$1,147,828$17,255,278
2015$17,459,586$151,643▲ $132,264$1,100,000$16,643,493
2014$17,209,594$550,923▲ $506,897$807,828$17,459,586
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Meera ViswanathanHead of SchoolFT$307,499$101,322$408,821
Gretchen OrschiedtDirector of AdvancementFT$208,943$10,879$219,822
Amy WheelerAssociate Head of SchoolFT$142,165$35,352$177,517
Greg JandreauChief Financial OfficerFT$141,948$8,511$150,459
Aline RossiterDirector of Enrollment ManagementFT$118,650$7,119$125,769
Richard MeierDirector of FacilitiesFT$110,927-$110,927

Highest Paid Contractors

ContractorServicesLocationCompensation
Flik International Corp Compass Group UDining ServicePO BOX 91337, Chicago, IL 60693-1337$1,037,532
John Torniero PaintingPainting28 ANTHONY COURT, East Haven, CT 06512$125,791
Revenue and Support

Revenue Composition

Contributions and Grants
$5,104,805
Program Service Revenue
$13,175,037
Investment Income
$156,846
Other Revenue
$134,437
All Other Contributions
$5,104,805
Change in Net Assets
$-2,432,237

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded53$981,949Fair Market Value (FMV)
Other Non Cash Contri Table1$63,315Fair Market Value (FMV)
Total Noncash Contributions54$1,045,264-

Audited Revenue Reconciliation

Revenue per Audited Statements
$13,548,305
Revenue Not Reported on Financial Statements
$5,022,820
Revenue Not Reported on Form 990
$1,081,777
Other Revenue Adjustments
$5,022,820
Total Revenue per Audited Statements
$14,630,082
Total Revenue per Form 990
$18,571,125
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$8,952,760
Other Expenses$7,809,325
Grants and Similar Amounts Paid$4,241,277
Total Fundraising Expense$1,264,800
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,002,244$917,172$783,405$6,702,821
Grants to Domestic Individuals$4,241,277--$4,241,277
Depreciation Depletion$2,196,560$141,650$28,064$2,366,274
Occupancy$1,096,572--$1,096,572
All Other Expenses$819,932$98,489$129,253$1,047,674
Other Employee Benefits$607,665$166,649$59,277$833,591
Current Officers, Directors, Trustees, and Key Employees$402,271$151,858-$554,129
Payroll Taxes$377,851$75,850$51,818$505,519
Interest$479,880--$479,880
Other Expenses$391,598$86,811$16,842$391,598
Office Expenses$284,882$47,729$41,942$374,553
Pension Plan Contributions$266,317$53,832$36,551$356,700
Travel$71,058$205$88,599$159,862
Fees for Services Accounting-$70,899-$70,899
Fees for Services Legal-$48,815-$48,815
Conferences and Meetings$13,570$95$7,787$21,452
Total Functional Expenses$17,878,508$1,860,054$1,264,800$21,003,362

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$21,003,362
Expenses per Audited Statements$16,762,085
Total Expenses per Audited Statements$16,762,085
Expenses Not Reported on Financial Statements$4,241,277
Other Expense Adjustments$4,241,277
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$2,750,000

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments-00$1,750,000
Europe (including Iceland & Greenland)Investments-00$1,000,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Fair Value of Interest Rate Swap$458,790

Bond Issues

BondIssuerIssuedIssue PricePurpose
AState of Ct Health and Educational Facilities Authority2016-06-14$13,145,000Refund current bond issue and construction of new athletic facility
BState of Ct Health and Educational Facilities Authority2013-04-03$8,665,000Construction of new dorm and other capital maintenance projects

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$13,145,000-$2,830,850$262,900
B$8,665,000-$1,080,000$165,000

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The form 990 is prepared by the school's tax advisors with information provided by the school's management. The chief financial officer and audit committee review the form 990. The board of the ethel walker school directs that the audit committee review and approve the final version with full authority of the board.

Form 990, Part VI, Section B, Line 12C

Trustee and key employees need to complete an annual conflict of interest disclosure form which is reviewed by the chief financial officer.

Form 990, Part VI, Section B, Line 15

Compensation is determined by a combination of hiring committee input, research by the trustees with regard to other head of schools' compensation, and recommendation from carney sandoe, a search firm. The deliberations and decisions regarding compensation are documented.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Ethel Walker School Inc
EIN
06-0689699
Phone
8606584467
Address
230 BUSHY HILL ROAD, SIMSBURY, CT 06070

Signing Officer

Name
Thomas Regan
Title
Treasurer
Phone
8606584467
Signed
2020-07-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas Regan
Formed
1911
Legal Domicile
Ct
Voting Board Members
28
Independent Board Members
27
Employees
186
Volunteers
27

Preparer

Firm
Blum Shapiro & Company Pc
Address
ONE INTERNATIONAL PLACE 16TH FLOOR, BOSTON, MA 02110
Preparer
Laura J Kenney
Phone
6177170831
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in beneficial interest in trusts 720,000. Unrealized loss on interest rate swap -781,543. Interest and dividends transferred to ethel walker foundation 83,257. Unrealized gain transferred to ethel walker foundation 287,894. Interest and dividend income reported on ethel walker foundation return 163,850.

Financial Statement Notes

PART V, LINE 4:

The school's endowment fund consists of approximately 90 individual funds established for a variety of purposes.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in beneficial interest in trusts 720,000.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Unrealized gain on interest rate swap 781,543. Scholarships and tuition assistance 4,241,277.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Scholarships and tuition assistance 4,241,277.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0THE ETHEL WALKER SCHOOL IS AN INDEPENDENT, COLLEGE PREPARATORY, BOARDING AND DAY SCHOOL FOR GIRLS IN GRADES SIX THROUGH TWELVE. SINCE 1911, THE ETHEL WALKER SCHOOL HAS EXCELLED AT PREPARING STUDENTS TO MAKE A DIFFERENCE IN THE WORLD. MEMBERS OF THIS DIVERSE COMMUNITY ARE DEDICATED TO SCHOLARSHIP, THE ARTS, ATHLETICS, WELLNESS, AND SERVICE. THE SATISFACTION OF ACHIEVEMENT AND JOY OF FRIENDSHIP ARE FUNDAMENTAL PRINCIPLES AS THE SCHOOL EMPOWERS GIRLS TO LEAD WITH INTEGRITY, CONFIDENCE, COURAGE, AND CONVICTION.
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IRS990/Form990PartVIISectionAGrp/PersonNm16KATHARINE O'BRIEN ROHN
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IRS990/Form990PartVIISectionAGrp/PersonNm32ALINE ROSSITER
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IRS990/Form990PartVIISectionAGrp/TitleTxt0TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt1TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt2TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt19TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt20TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt21TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt22TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt23TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt24TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt25TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt26HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt27TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt28CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt29DIRECTOR OF ADVANCEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt30ASSOCIATE HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt31DIRECTOR OF FACILITIES
IRS990/Form990PartVIISectionAGrp/TitleTxt32DIRECTOR OF ENROLLMENT MANAGEMENT
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IRS990/MissionDesc0THE ETHEL WALKER SCHOOL IS AN INDEPENDENT, COLLEGE PREPARATORY, BOARDING AND DAY SCHOOL FOR GIRLS IN GRADES SIX THROUGH TWELVE. SINCE 1911, THE ETHEL WALKER SCHOOL HAS EXCELLED AT PREPARING STUDENTS TO MAKE A DIFFERENCE IN THE WORLD. MEMBERS OF THIS DIVERSE COMMUNITY ARE DEDICATED TO SCHOLARSHIP, THE ARTS, ATHLETICS, WELLNESS, AND SERVICE. THE SATISFACTION OF ACHIEVEMENT AND JOY OF FRIENDSHIP ARE FUNDAMENTAL PRINCIPLES AS THE SCHOOL EMPOWERS GIRLS TO LEAD WITH INTEGRITY, CONFIDENCE, COURAGE, AND CONVICTION.

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$108$28.5$79.1$24.9$25.1$0.24
2023Detailed filing. Detailed filing data is available for this year.$106$29.2$76.8$24.7$23.7$0.95
2022Detailed filing. Detailed filing data is available for this year.$96.2$22.3$73.9$48.5$24.0$24.5
2021Detailed filing. Detailed filing data is available for this year.$81.7$24.7$57.0$23.3$22.3$1.02
2020Detailed filing. Detailed filing data is available for this year.$75.6$25.9$49.7$18.1$21.1$2.93
2019Detailed filing. Detailed filing data is available for this year.$75.8$24.4$51.4$18.6$21.0$2.43
2018Detailed filing. Detailed filing data is available for this year.$78.2$25.2$53.0$21.3$21.6$0.29
2017Detailed filing. Detailed filing data is available for this year.$78.4$26.7$51.7$16.9$20.2$3.31
2016Detailed filing. Detailed filing data is available for this year.$88.9$30.0$58.9$20.8$20.2$0.57
2015Detailed filing. Detailed filing data is available for this year.$81.8$23.3$58.5$27.7$19.2$8.46
2014Detailed filing. Detailed filing data is available for this year.$72.4$22.5$49.9$18.5$18.8$0.32
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$68.9$22.4$46.5$18.5$17.3$1.17
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$57.5$13.5$44.0$16.6
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$54.8$13.0$41.8$15.4
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$48.8$12.6$36.2$15.5
Peer Organizations

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